BREAKING NEWS: James Wiseman withdraws Lawsuit. Turn On 92.9 FM ESPN FOR REAL TIME NEWS ON THIS NOW.

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By , 92.9 FM ESPN
BREAKING NEWS: Memphis freshman James Wiseman has formally withdrawn his lawsuit against the NCAA and Memphis -- and is in the process of resolving his eligibility issues, per Gary Parrish
Memphis has announced that James Wiseman has been declared ineligible and that the school is now applying for reinstatement. The 5-star freshman will be withheld from competition until further notice, but is able to practice.

Wiseman withdraws lawsuit, Memphis works on eligibility

MEMPHIS, Tenn. (AP) — Freshman James Wiseman has withdrawn his lawsuit against the NCAA and Memphis, and the university has declared him ineligible while officials work to resolve the case.

The university announced Wiseman’s decision Thursday morning.

Memphis says it supports Wiseman’s decision and believes it’s in the best interest of both the freshman and the Tigers’ basketball team to resolve his eligibility status through the NCAA process.

The university says it is immediately applying for Wiseman to be reinstated. Until then, Wiseman will be held out of games but can practice with the No. 13 Tigers (2-1).

Memphis says the NCAA is fully aware of “the unique nature and challenges” in this case and will give a fair decision.

Wiseman played in Memphis’ first three games, two after obtaining a temporary restraining order Nov. 8 allowing him to play.

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Here's an updated story with the details surrounding James Wiseman withdrawing his lawsuit against the NCAA, Memphis ruling him ineligible and now applying for reinstatement:

— Gary Parrish (@GaryParrishCBS) November 14, 2019

The NCAA told Memphis and James Wiseman’s attorneys that it could not reach a resolution with Memphis with a lawsuit pending. That is the reason for Wiseman taking a nonsuit in the action. The case can be re-filed if a resolution is not reached.

— Jay Bilas (@JayBilas) November 14, 2019

Statement from Memphis: "In order to move the matter forward, the University has declared James ineligible for competition and will immediately apply for his reinstatement. ... James will be withheld from competition but will continue to practice with the team."

— John Martin (@JohnMartin929) November 14, 2019

According to Shelby County Chancery Court records, a notice of voluntary nonsuit has been filed in Wiseman vs. NCAA. Backs up what @GaryParrishCBS reported last night. Both sides are working toward a settlement. Expect to hear more soon.

— Mark Giannotto (@mgiannotto) November 14, 2019